China's auto manufacturers intend to limit Tesla's dominance in the country's electric car market with the launch of more than a dozen new models in an attempt to capture a market share in the luxury car sector and compete with Tesla, which is the country's best-selling electric car, according to the company. Cited by CNBC.
In the same context, Nio CEO William Lee announced his plans to expand to new areas in northern China and focus on developing battery and charging stations, as the Chinese Electric Vehicle Corporation agreed last week with the oil group of the Chinese government Sinopec to set up 5,000 swap and charging stations all over the country. Country over the next few years.
These agreements are expected to help China in its ambition to raise electric vehicle sales to 20% of the country's total car purchases, compared to 5% at present.
In addition, China is expected to benefit from the Tesla accident that occurred at the beginning of the week, when its Model S car crashed in the United States with evidence indicating that no one was driving the car.
In addition to Tesla, Chinese companies will also have to confront the major German carmakers - Audi, Mercedes-Benz, and BMW - that have long dominated the luxury car market, especially in China.
In 2020, the three German brands together sold more than 700,000 cars in China.